Bitcoin Price Evolution Analysis 08.27.2021

by CSM TRADER                                                                                                                

 Nº 420

BTC price U$ 47.370.  

Price USD/BRL R$ 5.25.

Price EUR/BRL R$ 6.17.

Price Gold 1g BRL 302.14.

Good morning to all readers.

Today we have the closing of the CME options.

The price of Bitcoin follows an uptrend above the price area of $46,500, but remains below the EMA 100 (H1).

The price of Bitcoin in past sessions has been in strong consolidations between the $46,820 and $47,200 price areas.

Now at the time of writing, the Bitcoin price is tracking in the U$47,460 price area.

It will be necessary for the Bitcoin price to give the continuities of positive developments to stay above the U$ 46,800 price area or even above the EMAs 5 and 20, for the next few sessions.

The price of Bitcoin will have to have a good, strong positive move above the $47,500 and $47,880 price areas to enter the Ichimoku Cloud (H1) and still be supported above the EMA 50 for possible attempts at positive moves above $48,000.

It will be of utmost importance that the Bitcoin price stays above the EMA 50 where 3 tests have already been made on it.

If the Bitcoin price fails on these positive advances or even gets supported above the EMA 50, in the short term, the negative corrections could come back below the U$47,220 and U$47,080 price areas.

Only with good positive moves above the EMA 100 (H1), for the Bitcoin price to continue its positive moves above U$48,120.

If the Bitcoin price follows below the Ichimoku Cloud, it could revisit the price area of U$ 46,780 and U$ 46,600, where a good support base has been made.

If the Bitcoin price breaks this base, the downside corrections could be much stronger and go in search of the $45,500 and $44,780 price areas.

A daily close has been made above the $46,850 price area.

For today a close above the $47,500 price area would be nice.

Ideally, a close above the $48,000 price area would be good.

Buyers remain in control of the situation with the price of Bitcoin above the $46,600 price area.

It will be necessary for buyers to make positive advances above the $48,000 price area to get out of a risk area of sellers regaining control of the situation, where they can once again create the disadvantages for the LTA breakout attempts, or even at the $46,600 price area, where 3 tests have already been made in the same area, referring to the $44,200 price area.

If buyers fail to keep Bitcoin's price above $46,600, sellers will continue the downside down to below $46,000 and $45,780.

In the medium term sellers may still try to take the Bitcoin price below U$42,000.

Major areas of Resistance - U$47,500, U$47,960 and U$48,500.

Major Support areas - U$47,000, U$46,600 and U$46,000.

H4 chart:

Bitcoin price follows above the 200, 100 and 5 EMAs, however it follows below a little below the 50 and 20 EMAs and follows inside the Green Ichimoku Cloud.

The Bitcoin price needs to hold above the 100 EMA for the next few sessions.

It will be necessary for the Bitcoin price the continuities of the positive developments upwards from the price areas of $47,800 and $48,120 to get out of a risk area of possible turns of the negative corrections downwards from the price areas of $47,220 and $47,100.

It will be very important for the next few sessions, that the Bitcoin price gets its positive evolutions above the EMAs 50 and 20, where a test has just been made.

Follow the buyers in their attempts to give the positive continuations above U$ 48,000.

Resistances: U$ 47,788 // U$ 48,114 // U$ 48,441 // U$ 48,791.

Supports: U$47,531 // U$47,274 // U$47,181 // U$46,629.

https://www.tradingview.com/x/rrQzYp8Q/

H1 chart:

Bitcoin price follows above the 20, 5 and 50 EMAs, however it follows slightly below the 200 and 100 EMAs and below the Ichimoku Cloud.

The Bitcoin price has just made the necessary advances above the 50 EMA, and will have to hold above the 50 EMA for the consolidations needed for the next steps, which will be the continued positive advances above the 200 and 100 EMAs and into the Ichimoku Cloud.

If the Bitcoin price manages to stay above the 100 EMA, attempts at a return of the positive developments could emerge for the positive advances above the $48,500 and $49,000.

If the price of Bitcoin fails to make positive moves above the EMA 100 and $48,500, the negative corrections could come back, where it would have to stay above the $47,220 price area or even above the EMA 5 and 20 in order not to continue below $47,000, and lose all these moves and consolidations made so far.

Follow the buyers in the attempts to give the continuities of the positive evolutions above the EMA 200.

Resistances: U$ 47.820 // U$ 48.071 // U$ 48.347 // U$ 48.695.

Supports: U$ 47.463 // U$ 47.138 // U$ 46.749 // U$ 46.368.

https://www.tradingview.com/x/pyWGnXh0/

Dominance: 45.22 %.

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Nº 420